Common use of No Resignation Clause in Contracts

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable law. The Asset Representations Reviewer will notify the Issuer and the Servicer of its resignation as soon as practicable after it determines it is required to resign and stating the resignation date, including an Opinion of Counsel supporting its determination.

Appears in 89 contracts

Samples: Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2024-A), Asset Representations Review Agreement (Ford Credit Auto Owner Trust 2024-A), Asset Representations Review Agreement (Ford Credit Auto Lease Trust 2024-A)

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No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable law. The In such event, the Asset Representations Reviewer will notify deliver a notice of its resignation to the Issuer and the Servicer Servicer, together with an opinion of its resignation as soon as practicable after it determines it is required to resign and stating the resignation date, including an Opinion of Counsel counsel supporting its determination.

Appears in 75 contracts

Samples: Asset Representations Review Agreement (CarMax Auto Owner Trust 2024-2), Asset Representations Review Agreement (Carmax Auto Funding LLC), Asset Representations Review Agreement (CarMax Auto Owner Trust 2024-1)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable law. The In such event, the Asset Representations Reviewer will notify the Issuer and the Servicer deliver a notice of its resignation as soon as practicable after it determines it is required to resign the Issuer, the Servicer and stating the resignation dateAdministrator, including together with an Opinion of Counsel supporting its determination.

Appears in 69 contracts

Samples: Asset Representations Review Agreement (Toyota Auto Receivables 2024-B Owner Trust), Asset Representations Review Agreement (Toyota Auto Receivables 2024-B Owner Trust), Asset Representations Review Agreement (Toyota Auto Receivables 2024-a Owner Trust)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable law. The In such event, the Asset Representations Reviewer will notify the Issuer and the Servicer deliver a notice of its resignation as soon as practicable after it determines it is required to resign the Issuing Entity and stating the resignation dateServicer, including together with an Opinion of Counsel supporting its determination.

Appears in 45 contracts

Samples: Asset Representations Review Agreement (CNH Equipment Trust 2024-B), Asset Representations Review Agreement (CNH Equipment Trust 2024-B), Asset Representations Review Agreement (CNH Equipment Trust 2024-A)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable law. The In such event, the Asset Representations Reviewer will notify deliver a notice of its resignation to the Issuer and the Servicer of its resignation as soon as practicable after it determines it is required to resign and stating the resignation dateServicer, including together with an Opinion of Counsel supporting its determination.

Appears in 39 contracts

Samples: Review Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Review Agreement (Mercedes-Benz Auto Lease Trust 2024-A), Review Agreement (Mercedes-Benz Auto Lease Trust 2023-A)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable lawApplicable Law. The In such event, the Asset Representations Reviewer will notify the Issuer and the Servicer deliver a notice of its resignation as soon as practicable after it determines it is required to resign the Issuing Entity, the Grantor Trust, the Administrator, the Sponsor and stating the resignation dateServicer, including together with an Opinion opinion of Counsel counsel supporting its determination.

Appears in 23 contracts

Samples: Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P3), Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P3), Asset Representations Review Agreement (Carvana Auto Receivables Trust 2022-P2)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable lawApplicable Law. The In such event, the Asset Representations Reviewer will notify deliver a notice of its resignation to the Issuer and the Servicer of its resignation as soon as practicable after it determines it is required to resign and stating the resignation dateServicer, including together with an Opinion of Counsel supporting its determination.

Appears in 13 contracts

Samples: Daimler Trucks (Daimler Trucks Retail Trust 2024-1), Agreement (Daimler Trucks Retail Trust 2024-1), Asset Representations Review Agreement (Mercedes-Benz Auto Receivables Trust 2024-1)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable law. The Asset Representations Reviewer will notify deliver a notice of its resignation to the Issuer and the Servicer of its resignation as soon as practicable after it determines it is required to resign and stating the resignation dateServicer, including together with an Opinion of Counsel supporting its determination.

Appears in 5 contracts

Samples: Asset Representations Review Agreement (Ford Credit Auto Receivables Two LLC), Asset Representations Review Agreement (Ford Credit Auto Receivables Two LLC), Asset Representations Review Agreement (Ford Credit Floorplan Corp)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable lawApplicable Law. The Asset Representations Reviewer will notify the Issuer and the Servicer deliver a notice of its resignation as soon as practicable after it determines it is required to resign the Issuer, the Servicer and stating the resignation dateIndenture Trustee, including together with an Opinion of Counsel supporting its determination.

Appears in 4 contracts

Samples: Asset Representations Review Agreement (California Republic Auto Receivables Trust 2017-1), Asset Representations Review Agreement (California Republic Auto Receivables Trust 2017-1), Asset Representations Review Agreement (California Republic Auto Receivables Trust 2016-1)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable lawApplicable Law. The Asset Representations Reviewer will notify deliver a notice of its resignation to the Issuer and the Servicer of its resignation as soon as practicable after it determines it is required to resign and stating the resignation dateServicer, including together with an Opinion of Counsel supporting its determination.

Appears in 3 contracts

Samples: Asset Representations Review Agreement (California Republic Funding LLC), Asset Representations Review Agreement (California Republic Funding LLC), Asset Representations Review Agreement (California Republic Funding LLC)

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No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable law. The In such event, the Asset Representations Reviewer will notify the Issuer and the Servicer deliver a notice of its resignation as soon as practicable after it determines it is required to resign the Issuing Entity and stating the resignation dateServicer, including together with an Opinion opinion of Counsel counsel supporting its determination.

Appears in 3 contracts

Samples: Asset Representations Review Agreement (World Omni LT), Asset Representations Review Agreement (World Omni Select Auto Trust 2021-A), Asset Representations Review Agreement (World Omni Select Auto Trust 2021-A)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable lawLaw. The Asset Representations Reviewer will notify the Issuer and the Servicer of its resignation as soon as practicable after it determines it is required to resign and stating the resignation date, including an Opinion written advice of Counsel counsel supporting its determination.

Appears in 1 contract

Samples: Review Agreement (Verizon ABS LLC)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable law. The In such event, the Asset Representations Reviewer will notify the Issuer and the Servicer deliver a notice of its resignation as soon as practicable after it determines it is required to resign the Issuing Entity[, the Grantor Trust] and stating the resignation dateServicer, including together with an Opinion opinion of Counsel counsel supporting its determination.

Appears in 1 contract

Samples: Asset Representations Review Agreement (World Omni Auto Receivables LLC)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines determines, in its sole discretion, that it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable lawLaw. The Asset Representations Reviewer will notify the Issuer Trust and the Servicer of its resignation as soon as practicable after it determines it is required to resign and stating the resignation date, including an Opinion written advice of Counsel counsel supporting its determination.

Appears in 1 contract

Samples: Asset Representations Review Agreement (Verizon Master Trust)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable lawApplicable Law. The In such event, the Asset Representations Reviewer will notify the Issuer and the Servicer deliver a notice of its resignation as soon as practicable after it determines it is required to resign the Issuing Entity[, the Grantor Trust], the Administrator, the Sponsor and stating the resignation dateServicer, including together with an Opinion opinion of Counsel counsel supporting its determination.

Appears in 1 contract

Samples: Asset Representations Review Agreement (Carvana Receivables Depositor LLC)

No Resignation. The Asset Representations Reviewer will not resign as Asset Representations Reviewer unless it determines determines, in its sole discretion, that it is legally unable to perform its obligations under this Agreement and there is no reasonable action that it could take to make the performance of its obligations under this Agreement permitted under applicable lawLaw. The Asset Representations Reviewer will notify the Issuer and the Servicer of its resignation as soon as practicable after it determines it is required to resign and stating the resignation date, including an Opinion written advice of Counsel counsel supporting its determination.

Appears in 1 contract

Samples: Asset Representations Review Agreement (Verizon Owner Trust 2020-B)

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